Inflation could fall sharply to below 40% by April 2023

Inflation could fall sharply to below 40% by April 2023.

By April 2023, inflation may have dramatically decreased to under 40%. Mark Bohlund, a Senior Credit Research Analyst at REDD Intelligence, predicts that by April 2023, inflation will have decreased by more than 10 percentage points.

According to Mark Bohlund, a senior credit research analyst at REDD Intelligence, “the inflation rate has decreased for two straight months and may fall further significantly to below 40% by April due to base effects”.

According to Bloomberg, the Ghanaian cedi has remained largely stable this year, which has helped to control inflation. In 2022, the cedi fluctuated due to worries about the country’s soaring debt load and then hope for a provisional bailout from the International Monetary Fund.

Mark Bohlund, a Senior Credit Research Analyst at REDD Intelligence, predicts that by April 2023, inflation will have decreased by more than 10 percentage points.

According to Mark Bohlund, a senior credit research analyst at REDD Intelligence, “the inflation rate has decreased for two straight months and may fall further significantly to below 40% by April due to base effects”.

Year-on-year According to the Ghana Statistics Service, inflation for the month of February 2023 decreased to 52.8%.
From the estimated 53.6% in January 2023, this was a decrease.

The rate fell for the second time in a row during the past 20 months.

Inflation rates that were higher than the national average were found in five divisions. They include transportation (70.3%), furnishings and household equipment (69.8%), housing, water, electricity, gas and other fuels (69.6%), personal care, social protection and other services (62.5%), food and non-alcoholic beverages (59.5%), and housing, water, electricity, gas and other fuels.

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